Today, the funds and valuables of Oschadbank that were seized by Hungarian special forces in March of this year were returned, Ukrainian President Volodymyr Zelenskyy announced on Wednesday afternoon.
Zelensky also wrote that this was “an important step in relations with Hungary – today, the funds and valuables of Oschadbank that were seized by Hungarian special services in March of this year were returned. At the time, the Hungarian side unlawfully detained Ukrainian cash-in-transit officers. We brought our people back sooner, and now both the funds and the valuables are back on Ukrainian territory in full.”
He added: “I am grateful to Hungary for its constructive approach and civilized step.”
I thank everyone on Ukraine’s team who fought for a fair decision and defended the interests of our state and our people. Glory to Ukraine!
The law firm of Dr. Lóránt Horváth, which represented the Ukrainian savings bank, issued a statement about the development. In it, they stated that between 10 a.m. and 3:45 p.m. on Wednesday, the Central Investigation Department of the Criminal Directorate of the National Tax and Customs Administration (NAV) released 40 million U.S. dollars, 35 million euros, and 9 kilograms of gold bars, with a total value of 1,526,265 U.S. dollars.
The Hungarian authorities handed over the assets to the Ukrainian side at the Záhony border crossing within the legally stipulated deadline. The handover was attended by Yuriy Katsion, chairman of the board of Oschadbank, and Ukraine's Ambassador to Hungary, Sándor Fegyir. The handover was handled by attorney Dr. Lóránt Horváth, who accepted the funds on behalf of the bank and the Ukrainian government. The handover proceeded without a hitch; the bank’s representatives inspected the gold, dollars, and euros and accepted them in full.
“The authorities provided no explanation as to why they were releasing the shipment; we simply received a phone call saying they would return it today,” Adrienn Laczó, one of the attorneys representing the Ukrainian money transporters told Telex. “Of course we’re happy, since it was important that our client get their property back, but that doesn’t undo anything about how the procedure was conducted. We still consider it illegal and unlawful.”
On March 5, members of the Hungarian Counterterrorism Center apprehended seven Ukrainian citizens and seized gold and currency worth more than 27 billion forints from their vans. According to the prosecutor’s office, the raid was carried out in response to a tip. The lawyer for the Ukrainian cash couriers later reported at a press conference that, to their knowledge, only members of the Counter Terrorism Center were present during the raid—contrary to the official record—and that the National Tax and Customs Administration (NAV) only initiated proceedings in the case later.
According to the Ukrainians’ lawyer, as well as the lawyer of the recipient of the money, the Ukrainian savings bank, and the Austrian Raiffeisen Bank which had sent the money, there was nothing unusual about the shipment that the transporters were trying to deliver from Austria to Ukraine.
Regardless of this, the Orbán government and its propaganda machine started communicating that there was a problem with the shipment, that there might have been money laundering involved, and that the money could be linked to the financing of the Tisza Party—but to date, no evidence has been presented to support these accusations and insinuations. On March 10, a decree was issued stating that “the legal ownership of the assets seized in the Ukrainian money transport vehicles could not be clarified on site.”
Following the April 12 election, Volodymyr Zelenskyy said he wanted to hold talks as soon as possible with the incoming prime minister, Péter Magyar, about the seized cash shipment. Previously, Zelensky had said that “Orbán simply stole this money".
Ukrainian Foreign Minister, Andrii Sybiha also commented on the news following Zelensky's announcement and said that this was “a welcome development on the path toward normalising the Ukrainian-Hungarian relations. We thank the Hungarian side for taking this step.
The return of the stolen property draws a clear line between the lawlessness of the Orban regime and the constructive approach of the incoming new government.”
The Ukrainian Foreign Minister interpreted the development as a sign of Hungary’s willingness to advance the relationship between the two countries with mutual respect and healthy pragmatism, and said they were ready to reciprocate.
He closed his post by saying that he looks forward to his future contacts with incoming Foreign Minister Anita Orbán.
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